Norwood Set to Begin Well Test in Nicaragua

Norwood Resources Ltd. has announced the results of logging analysis of its Las Mesas Gutierrez #1 well, which is located in Nicaragua 11 kilometers west of the initial San Bartolo well.

The well achieved a total drilled depth of 9,880 ft with a bottom hole deviation of 14.1 degrees. The company has logged the well and independent petrophysical analysis combined with core analysis has assigned a combined potential 271 ft of conventional pay in 10 separate zones. The zones of interest are within the various turbidite sands of the Paleocene Brito formation. Results from core analysis indicate porosities in the 16% to 24% range with permeability from 2 to 75 mD. These porosity measurements agree favorably with the log measurements.

The company has run 7-inch production casing in the well and expects to begin testing at Las Mesas by the weekend.

Upon completion of testing at Las Mesas, Norwood will move to San Bartolo to commence testing of the San Bartolo Rodiguez Cano #1 well while the third drilling location is being prepared.